With the increasing complexity of the financial markets and associated regulations, there is an ever increasing need for efficient management and sharing of information. As there is an increased ability to more efficiently manage and share information, there is likely to be a corresponding increase in the ability for a company/industry to operate in a more value maximizing manner. For example, efficient management and seamless sharing of information can increase operational capacity, reduce costs, increase organizational velocities, provide added transparency when needed or desired, and facilitate the regulatory compliance process.
However, there is currently a lack of a platform which is capable of addressing such information sharing and access needs in a cross-company and even cross-industry standardized manner. Currently, individuals, companies and industries that communicate and transact together are essentially all working on independent platforms, thereby impeding the efficiency and transparency of their respective interactions. Electronic systems and tools are designed to work within an organization (or even portion of an organization), and do not allow for the seamless sharing of information outside of the organization or industry in a secure and efficient manner.
Another issue facing industries, such as the real estate, insurance, finance, etc., is an inability to assess one's risk due to imperfect information. This is mostly due to the fact that different companies within the same industry often employ silo technologies which are incapable of providing a means to securely and seamlessly share information with other companies having a need or desire for the information. Since the risk associated with an asset can span literally dozens, hundreds or thousands of organizations all interlinked by their risk exposure to the particular asset, there is a pronounced unsatisfied need in the art for a standardized data sharing platform through which entities may transact with one another and directly share the data and documents associated with such transactions.